Li-ion battery pack maker Lohum targets 3-fold jump in topline to Rs 300 cr

Lithium-ion battery pack maker and recycling firm Lohum has said it is eyeing a three-fold jump in its topline at over Rs 300 crore this fiscal driven by surging demand. The company has drawn up an aggressive expansion plan for the next five years amid the Lithium-ion battery industry expecting to grow 11-times between 2020-2030, Lohum Cleantech said. This growth will come on the back of rising demand for electric vehicle batteries, and energy storage systems(ESS) that power smart devices, and stationary applications, it said. Lohum Cleantech is looking to expand at a faster pace to meet the needs of the market. At the end of this financial year, the company is expecting to triple its revenue from Rs 110 crore achieved in FY22, the Greater Noida-based firm said. Lohum claims holding as much as 60-70 per cent share of the total domestic Li-ion battery recycling market. The company had in September announced a collaboration with Switzerland-headquartered diversified natural resour

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